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Coronavirus Check : Over 50% of India Inc sees impact on ops, 80% witness fall in cash flow
“Besides the direct impact on demand and supply of goods and services, businesses are also facing reduced cash flows due to slowing economic activity, which in turn is having an impact on all payments including to those for employees, interest, loan repayments and taxes,” it said.
Sri Lanka imposes curfew as South Asia steps up coronavirus battle
South Asia appears to have been less hard hit than elsewhere in the world but the rate of new infections in Pakistan, India and Sri Lanka is accelerating with the total across South Asia passing 800. Seven people have died.
Officials worry that these countries could prove especially in danger due to poor health facilities and infrastructure in much of the region. The virus has already infected more than 245,000 people worldwide and killed more than 10,000.
China’s imported coronavirus cases jump as students, expats flock home
The total number of confirmed cases in mainland China stood at 81,008 at the end of Friday, the health authority said. The death toll was 3,255, up by seven, a much slower rate than at the height of the crisis.
The lack of locally transmitted cases for the third day running underscored a recovery that has prompted officials to relax restrictions, even in the virus epicentre of Wuhan, which was responsible for all seven new deaths.
Stay-at-home orders in major states mark next phase of U.S. coronavirus crisis
The pandemic that has swept the globe has also shattered lifestyles across much of the United States in the past week, shuttering schools and businesses, prompting millions to work from home, forcing many out of jobs and curtailing travel.
Swiss Re, Zurich insurance in talks with Swiss regulator about Coronavirus Impact
Insurers — as well as the re-insurers who take up their losses — are assessing the cost of disruptions related to the virus – which has claimed the lives of more than 10,000 and put swathes of the U.S. and Europe on lockdown. The industry has worked to reduce its exposure to pandemics since the 2003 outbreak of SARS in Asia. Over recent years, that’s included tightening their policies by inserting communicable-disease exclusions in contracts.
California issues ‘stay home’ order; U.S. death toll hits 200
The number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high last week, as companies in the services sector laid off workers with businesses shutting down due to the pandemic.
ECB to print 1 trillion euro this year to stem coronavirus rout
With much of Europe in lockdown amid the coronavirus outbreak, economic activity has come to a near standstill and markets have been in a tailspin, foreshadowing a deep recession on par with the 2008 global financial crisis and raising questions about the euro zone’s cohesion at times of stress
Asia stocks dive, dollar soars as ECB bazooka fails to ease fears
Asian markets initially climbed on the news but soon went into a tailspin as investors contemplate months of economic hardship with countries around the world in lockdown to prevent the spread of COVID-19, which has now infected more than 200,000 people and killed almost 9,000.
About 25 mn jobs could be lost worldwide due to coronavirus: UN
The coronavirus outbreak has killed 8,809 people and infected 218,631 across 157 countries and territories, according to a tracker maintained by Johns Hopkins University.
EU insurers must preserve capital positions as Coronavirus crisis escalates: Watchdog
“Insurers are likely to face progressively difficult conditions in the immediate future, both in terms of navigating challenging market conditions and in maintaining operations,” the European Insurance and Occupational Pensions Authority (EIOPA) said in a statement.